OPEC On Track For First $1 Trillion Year

Fatih Birol, chief economist at the IEA, said a new assessment by the rich nationsâ oil watchdog showed that the total number of barrels exported by Opec in 2011 would be slightly lower than in 2008, when cartel oil revenues reached $990bn. But if average prices remain around $100 a barrel, Opecâs oil revenues will still reach a record of $1,000bn this year.